Identify whether the following accounts would be included on a post-closing trialbalance. Post-Closing Trial Balance Account Title
Question:
Transcribed Image Text:
Post-Closing Trial Balance Account Title Yes No 0. Example: Cash a Income from Services b. Prepaid Insurance c. Supplies Expense d. Accounts Payable e. E Oz, Drawing f. Depreciation Expense, Equipment g. Wages Payable h. Accounts Receivable i. Wages Expense . Accumulated Depreciation, Equipment k F Oz, Capital
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 87% (8 reviews)
POSTCLOSING TRIAL BALANCE ACCOUNT TITLE YES NO 0 Example Cash X ...View the full answer
Answered By
Allan Simiyu
I am an adroit Writer. I am a dedicated writer having worked as a writer for 3 years now. With this, I am sure to ace in the field by helping students break down abstract concepts into simpler ideas.
5.00+
8+ Reviews
54+ Question Solved
Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
Question Posted:
Related Video
A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
Students also viewed these Accounting questions
-
Identify whether the following accounts would be included on a postclosing trial balance. Post-Closing Trial Balance Account Title Yes No 0. Example: Cash a Service Revenue b. Prepaid Insurance c....
-
Identify which of the following accounts would be included in a post-closing trial balance. _________ a. Accounts Receivable _________ b. Salaries Expense _________ c. Goodwill _________ d. Land...
-
Indicate which of the following accounts would be included in the chart of accounts of a merchandising company using either the (a) Periodic inventory system or (b) Perpetual inventory system. If the...
-
Cliff Arthur has equally attractive job offers in Miami and Los Angeles. The rent ratios in the cities are 8 and 20, respectively. Cliff would really like to buy rather than rent a home after he...
-
What is the difference between an implicit and an explicit tax? In what way do before-tax required returns react to changes in explicit taxes?
-
Repeat problem 4.17, except using linearized theory. Plot the linearized results on top of the same graphs produced for problem 4.17 in order to assess the differences between linear theory (which is...
-
Differentiate between Type I and Type II errors.
-
The inventory of Hang Company was destroyed by fire on March 1. From an examination of the accounting records, the following data for the first 2 months of the year are obtained: Sales Revenue...
-
a. Supplies: The Supplies account has a $300 debit balance to start the year. No supplies were purchased during the current year. A December 31 physical count shows $110 of supplies remaining. Step...
-
You are employed by McDowell and Partners, Chartered Accountants (M&P). A new client, Community Finance Corporation (CFC), approached M&P for assistance. Enviro Ltd. (Enviro) has asked CFC for a loan...
-
After all revenue and expenses have been closed at the end of the fiscal period ended December 31, Income Summary has a debit of $ 45,550 and a credit of $ 36,520. On the same date, D. Mau, Drawing...
-
Indicate with an X whether each of the following would appear on the income statement, statement of owners equity, or balance sheet. An item may appear on more than one statement. The first item is...
-
News Story 20: Eating Organic Foods Reduces Pesticide Concentrations in Children. Exercises 30 and 31 list the titles of some of the news stories printed or summarized in the Appendix. In each case,...
-
Polyhidron Corporation produces 5-gallon plastic buckets. The company expects to produce 430,000 buckets in 2018. Polyhidron purchases high-quality plastic granules for the production of buckets....
-
The Deluxe Motorcar in northern California manufactures motor cars of all categories. Its budgeted sales for the most popular sedan model XE8 in 2018 is 4,000 units. Deluxe Motorcar has a beginning...
-
Perform the algebraic design of a highpass FIR filter such that \[\begin{aligned}\omega_{\mathrm{p}} & =\frac{\omega_{\mathrm{s}}}{8}\\\delta_{\mathrm{p}} & =8 \delta_{\mathrm{r}}\end{aligned}\]...
-
Consider the third-order continuous-time LTI system \[ \begin{aligned} \dot{\mathbf{x}} & =\mathbf{A x}+\mathbf{B} u \\ y & =\mathbf{C x} \end{aligned} \] \[ \begin{array}{r} \text { with }...
-
What is the intuition behind the geometric growth in interest?
-
Compute the derivative. G(z) = 1 tanz - cotz
-
Heineken N.V., a global brewer based in the Netherlands, reports the following balance sheet accounts for the year ended December 31, 2016 (euros in millions). Prepare the balance sheet for this...
-
During October 2019, Cleo organised a new business, Cleos Cafe. After each October transaction, Cleo prepared a balance sheet, as shown below. Required (a) Describe the nature of each of the four...
-
Selected information from the payroll register of Wray's Drug Store for the week ended July 14, 20--, is shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.8%, both on the first...
-
Oxford Company has five employees. All are paid on a monthly basis. The fiscal year of the business is June 1 to May 31. The accounts kept by Oxford Company include the following: The following...
-
Multnomah Manufacturing estimated that its total payroll for the coming year would be $540,000. The workers compensation insurance premium rate is 0.2%. REQUIRED 1. Calculate the estimated workers...
-
Hall & Company issues $ 1 0 0 , 0 0 0 , 0 0 0 in 6 % bonds with detachable warrants of 1 0 warrants for each $ 1 , 0 0 0 bond. The bonds are issued at 9 9 . Record the issuance under the following...
-
Assume that hein acquired Dolan Development last year. Hein recorded the following intangible assets on the date of acquisition: Goodwill: $ 1 , 5 0 0 , 0 0 0 Dolan Development trademark: $ 6 0 0 , 0...
-
What is the total amount of interest that will be paid of the loan is carried to term with no extra payments made building cost 3 3 0 0 0 0 . loan started im Dec 2 0 2 3 worh a 7 . 5 % interest rate...
Study smarter with the SolutionInn App